REVAMPING OF INLAND
WATER TRANSPORT CORPORATION
The Government of
India has already approved a Re-organization plan for Central
Inland Water Transport Corporation (CIWTC) Limited, Kolkatta in
June, 2001 with a total outlay of Rs. 139.55 crores.
The Government has
approved an Inland Water Transport Policy with the aim of accelerated
development of inland waterways and to involve private sector
in this field. It includes some policy decisions and also fiscal
concession to attract private sector in IWT. In the present economic
scenario it is necessary that both the public and private sector
are involved in the development of various infrastructural facilities
for the over all benefit of the country and this policy has been
made with this rationale in view.
With a view to encouraging
private operators to own and operate inland vessels on National
Waterways, an Inland Vessel Building Subsidy Scheme has been approved
by the Government under which 30% of the cost of a vessel would
be provided as subsidy to the owner of the vessel which should
be done in an Indian shipyard. Other incentives related to encouraging
the ownership of the IWT vessels include higher depreciation rate
for Inland vessels and levying reduced custom duty for import
of some equipment and machinery related to IWT sector.
This was stated by
Shri Su. Thirunavukkarasar in a written reply to a question by
Shri Bachani Lekhraj in Rajya Sabha today.
